Virginia Beach Chapter 7 Attorneys

Bankruptcy Law

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    Is Chapter 7 Bankruptcy Right for Me?

    In a Chapter 7 bankruptcy, you can get rid of most of your debts, such as payday loans, medical bills, credit cards, personal loans, repossessions, and more. In most Chapter 7 cases, you can still keep your home and car, so long as you make your payments on time. The advantages don’t end there. The moment you file, you end all the threats and bullying, including lawsuits, garnishments, and frozen bank accounts. However, there are several strict requirements, so it pays to have an experienced Chapter 7 lawyer by your side before you start. Our bankruptcy attorneys have an excellent track record of success in helping our clients get a new start on their financial lives. To learn how we can help you, get in touch with our bankruptcy legal team today

    Are There Any Types of Debt Chapter 7 Doesn’t Cover?

    Unfortunately, Chapter 7 bankruptcies don’t relieve you of certain types of debt. If you owe past income taxes to the federal or state government, child or spousal support, or student loans, you’ll need to find other payment arrangements for those debts. However, a Chapter 7 bankruptcy for other debt you have can help you free up more funds to deal with these types of debt. That’s why it’s critical that you start working with a lawyer who specializes in bankruptcies. Our expert Chapter 7 attorneys can sit down with you to help you find a plan that will help you get out of debt for good. Make an appointment with one of our experienced attorneys today!

    What Are Some of the Requirements for a Chapter 7 Bankruptcy?

    First, you’ll need to prove your eligibility through the means test we mentioned earlier. If you’re eligible, filing for a Chapter 13 bankruptcy will stop any foreclosures, wage garnishments, repossessions, lawsuits, or other harassment by your creditors. While we’ll help you create a repayment plan, the court must approve your plan. The court will determine whether you have proposed this plan in good faith, that the amount your unsecured creditors will receive is not less than you would have paid with a Chapter 7 filing. Also, your payments must maximize all your disposable income – which means all your income that does not go toward your support and maintenance. It’s a complex process, but with an experienced bankruptcy lawyer by your side, you can have the confidence that you will come out of the process with success. To start the process, get in touch with our office today.

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